An ideal DNA carrier is one that is capable of effectively condensing DNA into complexes of optimum size and shape, preventing premature decomplexation in the bloodstream and efficiently releasing the DNA into affected cells. In this context, we have developed a novel beta-cyclodextrin (beta-CD)-based four-arm star-shaped polymer inclusion complex (IC) with arms made of a poly(L-histidine)-based cationic polymer. The polymer was well characterized by gel permeation chromatography, NMR, and matrix-assisted laser desorption ionization time-of-flight mass spectrometry. We have also investigated its DNA complexation and release properties. Bisadamantane containing a disulfide bond was synthesized that linked two such poly(L-histidine)-containing beta-CD units via guest-host interactions to prepare the presented IC. Besides using the conventional steady-state fluorescence spectroscopy, the ability of this IC to condense DNA to form polyplexes and their release behavior have been established by using the time-resolved fluorescence spectroscopy technique. Thiazole orange (TO) was used for the first time as a DNA-intercalating dye in the time-resolved fluorescence spectroscopic study. The superior DNA-condensing ability of the IC as compared to that of the precursor two-arm beta-CD and linear poly(L-histidine) of a comparable molecular weight, as confirmed by dynamic light scattering, zeta potential, atomic force microscopy, and gel electrophoresis studies, could be attributed to a higher charge density. The IC-DNA polyplexes were found to be stable in a medium similar to an extracellular fluid but could efficiently release DNA in the presence of 10 mM glutathione, a concentration prevalent in the intracellular fluid of cancer cells. Hence, here, we have successfully demonstrated the synthesis of a novel biocompatible star-shaped IC with the potential to carry and release DNA in cancer cells and also established the feasibility of using the time-resolved fluorescence spectroscopic technique to study the complexation behavior of the polycation and DNA using TO as a DNA-intercalating dye.